Evaxion Announces Closing of $15 Million Public Offering
06 Fevereiro 2024 - 10:30AM
Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a
clinical-stage TechBio company specializing in developing
AI-Immunology™ powered vaccines, today announced the closing on
February 5, 2024 of its previously announced public offering of
3,750,000 of its American Depositary Shares (“ADSs”) (or pre-funded
warrants in lieu thereof) and warrants to purchase up to 3,750,000
ADSs at a combined public offering price of $4.00 per ADS (or
pre-funded warrant in lieu thereof) and accompanying warrant. MSD
Global Health Innovation Fund (MSD GHI), a corporate venture
capital arm of Merck & Co., Inc., Rahway, NJ, USA, who became
an Evaxion shareholder in December 2023, participated in this
offering. The warrants have an exercise price of $4.00 per ADS, are
exercisable immediately upon issuance and will expire five years
following the date of issuance. Each ADS represents ten ordinary
shares of the Company.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The gross proceeds to the Company from the
offering were $15 million before deducting the placement agent's
fees and other offering expenses payable by the Company. The
Company intends to use the net proceeds of this offering to advance
the Company’s preclinical and clinical pipeline and for continuing
operating expenses and working capital.
A registration statement on Form F-1 (File No.
333-276505) relating to the securities described above has been
filed with the Securities and Exchange Commission, or the SEC, and
was declared effective by the SEC on February 1, 2024. The offering
was made only by means of a prospectus, which is part of the
effective registration statement. A final prospectus relating to
the offering has been filed with the SEC. Electronic copies
of the final prospectus may be obtained for free on the SEC's
website located at http://www.sec.gov and may also be
obtained by contacting H.C. Wainwright & Co., LLC at 430 Park
Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711
or e-mail at placements@hcwco.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or other jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Evaxion
Evaxion Biotech A/S is a pioneering TechBio
company based upon its AI platform, AI-Immunology™. Evaxion’s
proprietary and scalable AI prediction models harness the power of
artificial intelligence to decode the human immune system and
develop novel immunotherapies for cancer, bacterial diseases, and
viral infections. Based upon AI-Immunology™, Evaxion has developed
a clinical-stage oncology pipeline of novel personalized vaccines
and a preclinical infectious disease pipeline in bacterial and
viral diseases with high unmet medical needs. Evaxion is committed
to transforming patients’ lives by providing innovative and
targeted treatment options. For more information about Evaxion and
its groundbreaking AI-Immunology™ platform and vaccine pipeline,
please visit our website.
Forward-Looking Statement
This announcement contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. The words “target,” “believe,”
“expect,” “hope,” “aim,” “intend,” “may,” “might,” “anticipate,”
“contemplate,” “continue,” “estimate,” “plan,” “potential,”
“predict,” “project,” “will,” “can have,” “likely,” “should,”
“would,” “could,” and other words and terms of similar
meaning identify forward-looking statements. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various factors,
including, but not limited to, risks related to: statements
regarding the use of net proceeds from the offering; our financial
condition and need for additional capital; our development work;
cost and success of our product development activities and
preclinical and clinical trials; commercializing any approved
pharmaceutical product developed using our AI platform technology,
including the rate and degree of market acceptance of our product
candidates; our dependence on third parties including for conduct
of clinical testing and product manufacture; our inability to enter
into partnerships; government regulation; protection of our
intellectual property rights; employee matters and managing growth;
our ADSs and ordinary shares, the impact of international
economic, political, legal, compliance, social and business
factors, including inflation, and the effects on our business
from the worldwide ongoing COVID-19 pandemic and the ongoing
conflict in the region
surrounding Ukraine and Russia and the Middle
East; market and other conditions and other uncertainties
affecting our business operations and financial condition. For
a further discussion of these risks, please refer to the section
entitled “Risk Factors” contained in the final prospectus and our
other filings with the U.S. Securities and Exchange Commission
(SEC), which are available
at www.sec.gov. We do not assume any
obligation to update any forward-looking statements except as
required by law.
Source: Evaxion Biotech
Contact Information
Evaxion Biotech A/S
Christian Kanstrup
Chief Executive Officer
cka@evaxion-biotech.com
Evaxion Biotech AS (NASDAQ:EVAX)
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